TMI Blog2009 (2) TMI 14X X X X Extracts X X X X X X X X Extracts X X X X ..... g with Ms.Jyotsna Kendhalkar i/by Vigil Juris for the Appellant. Mr. P.S. Sahadevan for the Respondent. JUDGMENT The judgment of the court was delivered by F.I. REBELLO J. - Income Tax Reference No. 3 of 1994 is in respect of the assessment years 1976-77, 1977-78, 1978-79, 1979-80, 1980-81, 1979-80. Income Tax Reference No. 1 of 1994 is in respect of the assessment years 1984-85 and 1985-86. In respect of both the References, the learned tribunal has referred several questions for determination of this court. In our opinion, if question No. 2 is answered, there will be no need to answer the other questions referred to. The question for consideration before us reads as under: "Whether the Appellate Tribunal erred in law in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... shtra Apartment Rules, 1972. Based on this act and rules, it was contended that the transfer made by the assessee was complete and the ownership cannot be attached to the assessee so as to assess the income therefrom in the assessees hands. The learned Commissioner did not agree with the contention as advanced on behalf of the assessee and held that the assessee was rightly treated as owner of the property. Against which, the assessee preferred an appeal before the I.T.A.T. The contentions urged before the Commissioner were also urged before the I.T.A.T. The learned I.T.A.T. confirmed the orders of the Commissioner (Appeals). The tribunal has been pleased to make the reference. After hearing parties with their consent, the question has b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er Section 22 of the Income Tax Act. The submission was based on the contention that the assessee was not the legal owner of the property in the flats and as such the income from the flats could not be assessed as income from house property. The Assessing Officer assessed the income as income from house property. In an appeal preferred, the order of the Assessing Officer was upheld. In the appeal before the I.T.A.T. it held that income from the flats cannot be taxed as income from house property under Section 22 of the Act. Reference was made at the instance of the Revenue to the High Court. The High Court confirmed the view taken by the tribunal and held that the income in question was assessable under Section 56 of the Act. The matter w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... een paid. After considering various aspects, the court was pleased to hold that it is not required that the Deed has to be registered. What is to be considered is whether the person who was put in possession can enjoy the property to the exclusion of others. The Supreme Court then noted that the law laid down by the Supreme Court in Jodhamal (supra) has been rightly understood by the High Courts of Punjab and Haryana, Patna, Rajasthan etc and held that the requirement of registration of sale deed in the context of Section 22 is not warranted. 8. While so holding, it also noted the amendment carried out to Section 27 of the Act by Finance Act, 1987 by substituting some of the clauses with effect from 1.4.1988. The court addressed to itse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 10. Considering the law as declared, we may refer to the findings recorded in so far as the assessee is concerned. The tribunal in its order dated 16.2.1988, held as under: "Out of the 40 flats, 5 flats were retained by the co-owners and 3 flats continue to be in the possession of the Court Receiver. Nine flats were sold in the earlier years and the transfer was accepted as complete by the Revenue authorities. We are concerned with the status of the balance 23 flats. Out of these 23 flats, 19 were sold to different parties during the accounting year relevant to the assessment year 1976-77. The declaration as required under the Maharashtra Apartment Ownership Act, 1970 was executed by the co-owners some time in July, 1974. Deed of a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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